The black lines next to the red is your tool path, not sure why they are jagged, all the tool path does is it applies an offset from your original image, so you may need to do some cleanup on your original image. Your Sequence by List is only showing one polyarc due to you selected all and Made a Path which ties all objects into one part. If these are individual parts then you would Make Path on each individual part instead of selecting all and Making Path. For instance 4 base plates with holes inside, you want to be able to select these 4 plates individually as opposed to selecting all and making path, doing so would combine all 4 plates into one shape, which makes it so you can not change up the sequencing. The proper operation would be to select all of the objects on one plate and make path then do the same for the next 3 plates. Then select all and create your tool path, now when you go to change up the sequence you will have 4 separate tool paths you can pick from.
When it comes time to Machine > Output make sure that Device in the upper left of screen shows Accumove Imperial and Tool shows Multitool, this will generate the proper gcode when you go to Cut Now. Hope this helps, let me know if you run into any other issues, thanks.